General liability insurance protects your business from accidents, resulting in bodily injury and/or property damage, arising out of your business operations. All businesses have some level of general liability risks – whether you own or rent space for an office, warehouse, or manufacturing plant; provide a service or product to your customers; manufacture, distribute or sell a product.
A standard General Liability provides coverage for:
- Premise Liability
- Products Liability
- Completed Operations
- Personal Injury
- Advertising Injury
- Damage to Premise Rented
- Medical Expenses
Policies include a limit per occurrence as well as a policy aggregate. The aggregate indicates the most that the carrier will pay for losses during any one 12 month policy term. If you are a contractor, it is best to have a ‘Per Project Aggregate’ or if you own/insure multiple properties, a ‘Per Location Aggregate’.
Contracts that you enter should be reviewed thoroughly to see the obligations imposed upon you. Many require that your insurance include an entity as an ‘Additional Insured’ or provide coverage on a primary non-contributory basis with a waiver of subrogation – All requiring special forms to be added to your basic liability policy to comply.
If you provide benefits to your employees, ‘Employee Benefit Liability’ can be added to protect against claims brought by employees (or former employees) for negligent acts or omissions in the administration of your benefit programs including group life, group accident , health insurance, profit sharing plans, etc.
Every business benefits from having a General Liability Insurance policy to protect from out of court settlements, litigation, and judgments awarded by courts. We specialize in helping businesses with their insurance protection, including their liability risk. For more information about this important protection for your business, contact us today.